LONDON--(BUSINESS WIRE)--Northern Trust (Nasdaq: NTRS) has been reappointed for a GB£1.5 billion (approximately US$2.4 billion) mandate to provide global custody, securities lending, cash and foreign exchange services for Superannuation Arrangements of University of London (SAUL).
SAUL, one of the most recognised names in the UK pensions industry, has been a Northern Trust client since 2003. As part of the reappointment Northern Trust will act as master record keeper for private equity and infrastructure funds and has also extended its services to include investment risk and analytics (IRAS) across the portfolio.
“We were looking for a provider who could demonstrate an understanding of SAUL’s needs and strategy whilst being able to help us meet our future objectives of reducing administration costs, improving internal governance and maximising investment returns,” said Penny Green, Chief Executive, Managing Director, SAUL Trustee Company. “Following our strategic review, we were delighted to continue our long standing relationship with Northern Trust whose level of service is best matched to suit our long term objectives.”
“We are very pleased that Northern Trust has been successful in retaining SAUL as a client,” said Douglas Gee, head of sales for Institutional Investor Group UK and Ireland, at Northern Trust. “Northern Trust has a long track record in serving pension fund clients across the globe and understood SAUL’s unique requirements and the particular challenges affecting UK pension funds.”
The retention and expansion of this mandate follows a series of wins for Northern Trust in the UK pensions sector. These include the GB£4.6 billion (US$7.5 billion) Lancashire County Pension Fund, the GB£739 million (US$1.2 billion) Dyfed Pension Scheme; and the GB£3.1 billion (US$4.9 billion) Lothian Pension Scheme.
“We have a dedicated team of relationship managers servicing the needs of our UK non-corporate pension scheme clients,” said Ray Bloom, head of relationship management. “This group works closely with Northern Trust’s Retirement Solutions Practice to provide a wide range of services and solutions to help institutional investors such as SAUL manage their pension funds to make them more efficient and ultimately more viable for the future,” he added
Northern Trust now provides custody and related services to more than one third of the top 200 pension funds in the UK as well as 36 percent of all local government pension schemes.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 18 U.S. states and 16 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2011, Northern Trust had assets under custody of US$4.1 trillion, and assets under investment management of US$644.2 billion. For more than 120 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit www.northerntrust.com.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A, incorporated with limited liability in the U.S.
The Northern Trust Company, London Branch (reg. no. BR001960), Northern Trust Global Investments Limited (reg. no. 03929218) and Northern Trust Global Services Limited (reg. no. 04795756) are authorised and regulated by the Financial Services Authority.
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- Northern Trust (Guernsey) Limited, Northern Trust Fiduciary Services (Guernsey) Limited, and Northern Trust International Fund Administration Services (Guernsey) Limited are licensed by the Guernsey Financial Services Commission.
- Northern Trust International Fund Administrators (Jersey) Limited and Northern Trust Fiduciary Services (Jersey) Limited are regulated by the Jersey Financial Services Commission.
- Northern Trust International Fund Administration Services (Ireland) Limited, Northern Trust Securities Services (Ireland) Limited and Northern Trust Fiduciary Services (Ireland) Limited are regulated by the Central Bank of Ireland.
- Northern Trust Global Services Limited has a Netherlands Branch which is authorised and regulated in the Netherlands by De Nederlandsche Bank.
- Northern Trust Global Services Limited has a Luxembourg Branch which is authorised and regulated by the Commission de Surveillance du Secteur Financier (CSSF).
- Northern Trust Luxembourg Management Company S.A. is regulated by the Commission de Surveillance du Secteur Financier (CSSF).
- Northern Trust Global Services Limited operates in Abu Dhabi as a Representative Office, Licence number 13/238/2008 which is authorised and regulated by the Central Bank of the United Arab Emirates.
- The Northern Trust Company operates in Canada as The Northern Trust Company, Canada Branch which is an authorized foreign bank branch under the Bank Act (Canada). Trustee related services in Canada are provided by the wholly owned subsidiary The Northern Trust Company, Canada, an authorized trust company under the Trust & Loans Companies Act (Canada). Deposits with The Northern Trust Company and its affiliates and subsidiaries are not insured by the Canada Deposit Insurance Corporation.
- Northern Trust operates in Australia as a foreign authorised deposit-taking institution (foreign ADI) and is regulated by the Australian Prudential Regulation Authority and the Australian Securities & Investments Commission (AFS Licence No: 314970).
- The Northern Trust Company of Hong Kong Limited is a securities company regulated by the Securities and Futures Commission.
- The Northern Trust Company has a Singapore Branch which is a foreign wholesale bank regulated by the Monetary Authority of Singapore.
- The Northern Trust Company has a branch in China regulated by the China Banking Regulatory Commission.
- Northern Trust Global Investments Japan, K.K. is regulated by the Japan Financial Services Agency.
- Northern Trust Global Services Ltd (UK) Sweden Filial is Authorised by the Financial Services Authority and subject to regulation by the Finansinspektionen.
- Northern Trust Global Investments Limited has a Netherlands branch which is authorised by the Financial Services Authority and subject to regulation in The Netherlands by the Autoriteit Financiële Markten.
- Northern Trust Global Investments Limited has a Sweden branch which is authorised by the Financial Services Authority and subject to regulation in Sweden by the Finansinspektionen.